Question 1

Match each term with its definition.
-Payee's signature on the back of a check

Accepted Answer

A)  deposit record
B)  deposit slip
C)  electronic funds transfer system
D)  endorsement
E)  endorserF) third-party checkG) limited checkH) makerI) MICR numbersJ) money orderK) I) and J)
L) A) and C) D

Question 2

​Precautions must be taken when determining the banking procedures within a practice.Which of the following is an example of banking concerns?

Accepted Answer

A)   ​possible loss of funds
B)   ​identity of patients
C)   ​potential HIPAA violations
D)   ​all of the aboveE) All of the above
F) A) and C)

Question 3

Match each term with its definition.
-Numbers printed on the check in magnetic ink that contain the routing (ABA) number

Accepted Answer

A)  deposit record
B)  deposit slip
C)  electronic funds transfer system
D)  endorsement
E)  endorserF) third-party checkG) limited checkH) makerI) MICR numbersJ) money orderK) C) and J)
L) A) and B)

Question 4

When sorting currency,bills should be stacked:

Accepted Answer

A)   portrait side up,in order from lowest to highest denomination
B)   portrait side up,in order from highest to lowest denomination
C)   portrait side down,in order from lowest to highest denomination
D)   portrait side down,in order from highest to lowest denominationE) B) and C)
F) A) and B)

Question 5

Match each term with its definition.
-Payer of the check

Accepted Answer

A)  deposit record
B)  deposit slip
C)  electronic funds transfer system
D)  endorsement
E)  endorserF) third-party checkG) limited checkH) makerI) MICR numbersJ) money orderK) A) and D)
L) A) and J)

Question 6

The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:

Accepted Answer

A)   reconciling
B)   capitalizing
C)   transferring
D)   itemizingE) A) and B)
F) C) and D)

Question 7

Match each term with its definition.
-Itemized list of cash and checks deposited in a checking account

Accepted Answer

A)  deposit record
B)  deposit slip
C)  electronic funds transfer system
D)  endorsement
E)  endorserF) third-party checkG) limited checkH) makerI) MICR numbersJ) money orderK) A) and C)
L) B) and C)

Question 8

Deposits should be always be delivered to the bank:

Accepted Answer

A)   at the same time of day
B)   on the same day every week
C)   on the same day at the same time every week
D)   at different times and days of the weekE) None of the above
F) All of the above

Question 9

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once.
-​Businesses see small processing fees for each credit card transaction

Accepted Answer

A)  ​pro
B)  ​conC) A) and B)
D) undefined

Question 10

​Which of the following is not a type of savings account?

Accepted Answer

A)   personal checking
B)   money market
C)   custodial account
D)   regular/passbookE) A) and B)
F) All of the above A

Question 11

What is the correct way to write the numerical amount $5.62 as a written amount?

Accepted Answer

A)   Five and 62/100
B)   Five sixty-two
C)   Five and sixty-two
D)   Five .62E) A) and D)
F) All of the above A

Question 12

Match each term with its definition.
-Record of a deposit given to a customer at the time of the deposit

Accepted Answer

A)  deposit record
B)  deposit slip
C)  electronic funds transfer system
D)  endorsement
E)  endorserF) third-party checkG) limited checkH) makerI) MICR numbersJ) money orderK) C) and D)
L) A) and F)

Question 13

​This kind of check is often used by insurance companies

Accepted Answer

A)   ​limited
B)   ​cryptonic
C)   ​voucher
D)   ​certifiedE) None of the above
F) All of the above

Question 14

If a mistake is made in writing a check,it is necessary to write "_____" across the check and stub and write a new one.

Accepted Answer

A)   ERROR
B)   OMIT
C)   VOID
D)   DO NOT USEE) B) and D)
F) A) and D)

Question 15

A bank statement obtained through an ATM usually contains the last _____ transactions made on an account.

Accepted Answer

A)   5
B)   10
C)   15
D)   20E) A) and D)
F) B) and D)

Question 16

Match each term with its definition.
-Person authorized to act for another person

Accepted Answer

A)  ABA number
B)  agent
C)  ATM
D)  bank statement
E)  cashier's checkF) certified checkG) check registerH) checking accountI) currencyJ) depositK) A) and E)
L) D) and H)

Question 17

​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy) or not a best practice (not good policy) .Note: Answers may be used more than once.
-​A three-dimensional graphic foil embedded in the check to provide additional protection against duplication

Accepted Answer

A)  ​warning bank
B)  ​MP logo
C)  ​padlock icon
D)  ​security screen
E)  ​toner adhesionF) ​chemical reactive paperG) ​prismatic multicolored backgroundH) ​secure document check faceI) ​colored pantographJ) ​foil hologramK) ​visible or invisible fibersL) ​thermochromic heat-sensitive iconM) B) and I)
N) H) and L)

Question 18

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once.
-Adds another layer of detail to your business's bookkeeping practices

Accepted Answer

A)  ​pro
B)  ​conC) A) and B)
D) undefined

Question 19

Match each term with its definition.
-Money produced by the Federal Reserve in the form of paper bills and coins

Accepted Answer

A)  ABA number
B)  agent
C)  ATM
D)  bank statement
E)  cashier's checkF) certified checkG) check registerH) checking accountI) currencyJ) depositK) A) and I)
L) A) and J)

Question 20

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once.
-​A business that accepts credit cards gives customers another payment option

Accepted Answer

A)  ​pro
B)  ​conC) A) and B)
D) undefined

Exam 33: Banking Procedures

Match each term with its definition. -Payee's signature on the back of a check

Correct Answer
verified
D

Precautions must be taken when determining the banking procedures within a practice.Which of the following is an example of banking concerns?

Correct Answer
verified

Match each term with its definition. -Numbers printed on the check in magnetic ink that contain the routing (ABA) number

Correct Answer
verified

When sorting currency,bills should be stacked:

Correct Answer
verified

Match each term with its definition. -Payer of the check

Correct Answer
verified

The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:

Correct Answer
verified

Match each term with its definition. -Itemized list of cash and checks deposited in a checking account

Correct Answer
verified

Deposits should be always be delivered to the bank:

Correct Answer
verified

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -Businesses see small processing fees for each credit card transaction

Correct Answer
verified

Which of the following is not a type of savings account?

Correct Answer
verified
A

What is the correct way to write the numerical amount $5.62 as a written amount?

Correct Answer
verified
A

Match each term with its definition. -Record of a deposit given to a customer at the time of the deposit

Correct Answer
verified

This kind of check is often used by insurance companies

Correct Answer
verified

If a mistake is made in writing a check,it is necessary to write "_____" across the check and stub and write a new one.

Correct Answer
verified

A bank statement obtained through an ATM usually contains the last _____ transactions made on an account.

Correct Answer
verified

Match each term with its definition. -Person authorized to act for another person

Correct Answer
verified

Correct Answer
verified

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -Adds another layer of detail to your business's bookkeeping practices

Correct Answer
verified

Match each term with its definition. -Money produced by the Federal Reserve in the form of paper bills and coins

Correct Answer
verified

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -A business that accepts credit cards gives customers another payment option

Correct Answer
verified

Exam 33: Banking Procedures

Match each term with its definition. -Payee's signature on the back of a check

Correct AnswerverifiedD

​Precautions must be taken when determining the banking procedures within a practice.Which of the following is an example of banking concerns?

Correct AnswerverifiedShow Answer

Match each term with its definition. -Numbers printed on the check in magnetic ink that contain the routing (ABA) number

Correct AnswerverifiedShow Answer

When sorting currency,bills should be stacked:

Correct AnswerverifiedShow Answer

Match each term with its definition. -Payer of the check

Correct AnswerverifiedShow Answer

The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:

Correct AnswerverifiedShow Answer

Match each term with its definition. -Itemized list of cash and checks deposited in a checking account

Correct AnswerverifiedShow Answer

Deposits should be always be delivered to the bank:

Correct AnswerverifiedShow Answer

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -​Businesses see small processing fees for each credit card transaction

Correct AnswerverifiedShow Answer

​Which of the following is not a type of savings account?

Correct AnswerverifiedA

What is the correct way to write the numerical amount $5.62 as a written amount?

Correct AnswerverifiedA

Match each term with its definition. -Record of a deposit given to a customer at the time of the deposit

Correct AnswerverifiedShow Answer

​This kind of check is often used by insurance companies

Correct AnswerverifiedShow Answer

If a mistake is made in writing a check,it is necessary to write "_____" across the check and stub and write a new one.

Correct AnswerverifiedShow Answer

A bank statement obtained through an ATM usually contains the last _____ transactions made on an account.

Correct AnswerverifiedShow Answer

Match each term with its definition. -Person authorized to act for another person

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -Adds another layer of detail to your business's bookkeeping practices

Correct AnswerverifiedShow Answer

Match each term with its definition. -Money produced by the Federal Reserve in the form of paper bills and coins

Correct AnswerverifiedShow Answer

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -​A business that accepts credit cards gives customers another payment option

Correct AnswerverifiedShow Answer

Correct Answer
verified
D

Precautions must be taken when determining the banking procedures within a practice.Which of the following is an example of banking concerns?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -Businesses see small processing fees for each credit card transaction

Correct Answer
verified

Which of the following is not a type of savings account?

Correct Answer
verified
A

Correct Answer
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A

Correct Answer
verified

This kind of check is often used by insurance companies

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -A business that accepts credit cards gives customers another payment option

Correct Answer
verified